On 3 July 2014, the National Treasury of South Africa released the “Technical Report on The Consumer Credit Insurance Market in South Africa” - the culmination of a three-year review into the local market, which also highlights a series of abuses in Consumer Credit Insurance.
Consumer Credit Insurance is purchased by consumers to ensure payment of credit extended to them, in pre-defined circumstances in which they are no longer able to service their debt.
KPMG has developed a series of work-programmes and procedures to provide clients with independent, external assurance in determining their preparedness in relation to conduct risk.
In addition, we assist clients to understand the current state of their consumer credit index (CCI) and lending offerings, and whether these are compliant with the legislative framework.
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